Saving Account

Saving is a concept that somebody saves certain proportion of his or her income in order to spend it in future time. It is a security for tomorrow


United Bank renders four types of saving accounts service.

  • Ordinary saving account
  • Special Saving account
  • Provident fund saving account and
  • Time deposit account
Ordinary Saving Account

who can open saving Account?Anyone who is 18 years and older can deposit starting from Birr25.00.

Interest rate: Ordinary saving accounts bear interest rate of 4%. The interest earned is credited to the saving account every month.

Note: The bank's interest rate on ordinary savings is competitive and the highest in the industry.

Special Saving Account

The purpose of special savings account is to enable people who reside in foreign countries and who are not able to personally deposit and withdraw their money. The operation of this special account is possible through deposit and withdrawal cheques . The advantage of this account is that it bears interest like saving account and is operated like a checking account

Who is a special savings account holder? Any citizen, who is atleast 18 years old, and a resident in Ethiopia or in a foreign country, and is not able to personally operate the account, may deposit starting from Birr 1,000.00.

If the customer resides in a foreign country, he has to present his or her passport and other relevant documents

Interest on special Saving Account: Special saving accounts bear interest of 4% . The interest earned is credited to account every month.

Provident fund Savings Account

Objective: Any trading or manufacturing enterprise, governmental and non- governmental organization and other service giving organizations may deposit the provident funds of their employees in the bank and in the mean time benefit from the interest that their accounts bear.

Interest Rate: The bank pays interest rate which is more than the savings interest rate and it also increases as the amount in the provident fund account increases. The interest earned is credited to the accounts every month.

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